Musk has a history of erratic tweeting, prompting some initial scepticism about whether the Tesla plan was serious.
Musk detailed his proposal in a blog post on the company's website Tuesday, hours after stunning the company's followers by casually tweeting that he might take it private. The company had a market value of $58 billion as of Monday's close.
Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible.
Tesla's chief executive Elon Musk has announced, in a series of Twitter posts, that he wants to take the company private, resulting in a jump in the share price.
The Tesla CEO wrote a lengthy note to all of his staff stating that he had discovered someone working intently on causing malicious damage within the company's ranks.
The company's stock had been up slightly earlier in the day after the Financial Times reported that Saudi Arabia had quietly built a large stake in Tesla.
"Those two things taken together really sent the market up, really just made investors go insane", said Bloomberg News Editor Tom Giles.
It appears that Musk is hopeful that shareholders will simply hang in for the ride and willingly go private. It finished up 11%, at $379.
Betting against Elon Musk has never been for the faint of heart.
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One of the more notable short sellers in Tesla's stock, Jim Chanos of Kynikos Associates, commented on Musk's tweet to CNBC. He said he would create a special fund to allow that.
He pledged to hold on to his stake in the company, about 20%, no matter what. "Will ensure their prosperity in any scenario". Investors have also applauded Mr. Musk's efforts to rein in spending and boost Model 3 production to 5,000 vehicles a week, in part by running production lines inside a giant tent on the grounds of Tesla's Freemont, Calif., factory.
When NASDAQ trading was stopped, Tesla's shares were at $366.94, a 7.3 percent gain.
Mr Musk's announcement was initially met with widespread scepticism, with many people connecting the proposed price to 420 being a common slang term for marijuana. As Twitter exploded, Tesla representatives, usually quick to answer reporters' calls, remained silent.
Shares have rallied strongly since those earnings, but Musk has continued to show a short fuse towards critics, lambasting "short" sellers of Tesla shares - those who take bets that the stock will fall in value. But he said the idea made a certain amount of sense.
Musk has been in a very public battle with these shorts for years.
(Easy come, easy go.) More importantly, were Musk able to take Tesla from a publicly to privately owned company, Tesla would be worth about $71 billion, roughly the same as century-old Daimler, parent of Mercedes-Benz.
Intentions to buy out public shareholders usually need to be filed with the Securities and Exchange Commission, or SEC.
He added that he hoped all shareholders would remain and that all Tesla employees would "remain shareholders of the company".
MoviePass CEO Mitch Lowe blamed the change on the small number of users who were taking advantage of the "unlimited" promise. The change comes a week after MoviePass said it would increase its monthly $9.95 subscription plan to $14.95.
ET, the flight carried communications satellite Merah Putih, which is named for the red and white colors of the Indonesian flag. Its first launch was in May 2018. "The satellite is expected to have a service lifetime of 15 or more years", SpaceX said .
Saraki was also expected to meet with Mahmoud Yakubu, chairman of the Independent National Electoral Commission (INEC). Daura is however in a closed-door meeting with the Acting President, now holding at the presidential villa in Abuja.
When babies consume breast milk, they are less likely to develop respiratory illnesses, diabetes, and other diseases. During the same period, the rates of early initiation of breastfeeding decreased from 40 per cent to 27 per cent.
In the meantime, a "Save Urban Meyer " petition posted Thursday at Change.org has almost reached its goal of 25,000 signatures. Smith's ex-wife Courtney Smith told Stadium that Meyer's wife knew about the incident in 2015.
The image, which showed an Air Canada plane aimed at Toronto's skyline, attracted criticism soon after it was posted. Mr Al Yami said Saudi Arabia conducted all the necessary legal procedures as dictated by its own law.
He's doing an incredible job for his community. "He's doing an wonderful job for his community", the Chicago Bulls legend said . In the interview, James said he "would never sit across" from Mr Trump, though he would talk to former president Barack Obama .
Navarro was also asked if she was surprised by how many Republicans have stood with Trump throughout his controversial remarks. A combination photo of NBA basketball player LeBron James (L) in Oakland, California January 16, 2013 and U.S.
But sagging TV ratings, dwindling attendance and the loss of some key sponsors have weighed on the business in recent years. France has been the chairman of NASCAR since 2003, following his father Bill France Jr . and grandfather William H.G.
It is three months since Mr Trump pulled the United States out of the worldwide accord limiting Iran's nuclear activities. China, Russia and Turkey have already indicated that they would not comply with the unilateral United States sanctions.
Tesla now has a market value around $60 billion, which would make its take-private price tag about $80 billion, Galloway said. The company is now valued at just over $60 billion, with Musk holding an nearly 20 percent stake in the company.
Thomas refused medical treatment, according to police. "I'm not trying to die on my bday or go to jail", she wrote. According News12, Hiuyue Zheng is facing charges of assault, menacing, and criminal possession of a weapon.
The teenager allegedly shoved a gun toward the boy's stomach and demanded money before running away, the sheriff's office said. A 9-year-old North Carolina boy who was running a lemonade stand was robbed at gunpoint on August 5, officials said.
Several men, believed to be pedophile "clients" of the couple, have also been prosecuted in connection with the case. Christian L. claimed in court that he was the "driving force" behind them, and the mother has not stated a motive.
He has also told jurors that he and Manafort knew they were committing crimes for years as part of the offshore payment structure. Gates and Manafort purposely lied to Manafort's accountants, telling them he had no foreign accounts or interests, Gates said.
Liverpool boss Jurgen Klopp hopes to find a solution to his defensive headache after being left with two fit centre-backs. If you ever needed another reason to love Jurgen Klopp and his soft spot for the Irish then look no further.
A geophysicist and volcanologist, Gerst also worked as a volunteer firefighter while in school, according to his ESA biography . Officials have confirmed that six people, including two firefighters and a woman and her two great-grandchildren, have died.
Karunanidhi entered politics at the age of 14, after being inspired by a speech made by Alagiriswami of the Justice Party in 1932. Stalin, now the public face of the party maintains his father will always be the leader, but he's a Chief Minister in waiting.
I knew that you'd be there and you'd be a partner to me - and a teammate. "We are moving in together". Becca said that while the scandal was "a hurdle", the thought of leaving him "never crossed my mind".
In a statement to BuzzFeed , Apple confirmed it had also removed Jones' podcast for violating its guidelines on hate speech. YouTube's move comes on the heels of similar actions from other major platforms.
Israel insists its blockade is necessary to isolate Gaza's Islamist Hamas rulers, with which it has fought three wars since 2008. At least 156 Palestinians have been killed in the protests and one Israeli soldier was shot dead by a sniper in Gaza.
A JPMorgan spokesperson said that the company is not sharing its customers' transaction details with these third parties. Still, Facebook has been building up user comfort with sharing financial information through its site for years.
The raging Mendocino Complex fire has officially become the largest wildfire in California's history, authorities have confirmed. The US president has criticised Governor Jerry Brown and California's environmental laws on social media in recent days.